Monthly EMI ₹ 19,566
Principal amount ₹ 1,000,000
Total interest ₹ 1,73,969
Total amount ₹ 1,173,969
India has 7.7 crore active credit cards, more than the entire population of the UK. This data was gathered after inactive credit cards were discontinued by banks after an RBI directive
Personal Loan rose to a massive ₹37.7 Lakh Crore and Home Loan to ₹18.25 Lakh Crore in 2022.
20-30 crore+ people in India are expected to spend 4Lakh+ Crores on online retail this year, making us the fastest growing Digital Economy in the World.
Regardless of the type of loan you want to avail, be it a secured or an unsecured loan, it is important that you know how much monthly instalment you have to pay before you avail it. That is where an EMI calculator in India can be immensely helpful.
This helps you get an accurate estimate of your EMI amount so that you can plan your finances accordingly. Always make sure that your debt-to-income ratio is below 50% to maximize your chances of loan approval.
An EMI Calculator saves time and effort. You don’t have to do complex calculations by hand that can be quite time-consuming.
It eliminates any possibility of a miscalculation, and provides you with a sharp and accurate estimation every time.
EMI breakup is highly specific for each type of loan. The EMI components of a home loan, for example, is different from that of a personal loan.
The formula to determine loan EMI amount StockPe uses a specific formula to compute the EMI amount for a loan.
EMI = [P x I x (1+I) ^N]/ [(1+I) ^ (N-1)], where –
P is the principal amount I is the rate of interest N is the loan tenure This is the standard formula used by any online loan calculator. Some variables may be added in customized calculators based on the type of loan.
There are various EMI Calculators that you can use on StockPe to calculate your EMI - equated monthly installments for home loans, personal loans, car loans, etc.
Home loans usually have a huge loan principal amount and a long duration. This requires strategic planning for its repayment long term. You can use the Home Loan EMI Calculator of StockPe to calculate your EMI.
The UI at StockPe's EMI Calculator is simple to use. You can calculate and estimate your home loan EMIs immediately with StockPe's EMI Calculator. All you need to do is enter your loan amount, loan tenure, and rate of interest and the results will be calculated instantly.
Buying a car is one of the major investment decisions individuals make. Unlike a home loan, car loans are taken in India with much hesitation and research. Most car loans in India are availed when interest rates are low, and there is more demand.
You may want a car loan to fund the purchase of your car. Often, a car loan’s EMI is supposed is to be repaid with due interest within a specified time to the lender. If you fail to pay back your loan your car may be taken away and put up in an auction to recover the balance amount left to be paid. Hence, to calculate an accurate EMI amount that does not burn a hole in your pocket, you can use the Car Loan EMI Calculator of StockPe. You just need to enter your loan amount, interest rate, and loan tenure, and you will get the monthly EMI amount instantly.
Personal loans are mostly taken to serve many purposes like a medical emergency, vacation, relocation, wedding, home renovation, etc.
Since Personal Loan is an unsecured loan, it has a relatively higher interest rate and a shorter duration.
Unsecured Loan - This means, you don't have to pledge any collateral for securing a personal loan. If you take a car loan, your car is the collateral. Similarly, if you buy a house on a loan, your house is your collateral. But you needn't pledge any collateral to avail a personal loan.
You can use the Personal Loan EMI Calculator of StockPe to estimate the loan parameters better and the EMI amount that falls within your budget. By entering your loan amount, rate of interest, and loan tenure, you can calculate your EMI.
Education costs are rising at an unprecedented pace. But securing a commercial education and graduating has never been more important in a highly competitive job market.
To fund this cost, an education loan is one of the best options parents or students can opt for. These loans can be taken for a student’s education within the country or even overseas. The loan’s EMI is required to be repaid with interest an after a moratorium period.
By entering the loan amount, rate of interest, and loan tenure in the Education Loan EMI Calculator, you can calculate the sum of the EMI amount which you need to repay.
A loan against property or a mortgage is a type of secured loan that one can avail against a property owned by them. This property can be a house or a shop or an office space or any land.
Be it residential, commercial, or land, any property can be mortgaged with the lender against a loan. For calculating the EMI amount that you can repay without any financial strain, you can use a Loan against Property(LAP) EMI Calculator.
The StockPe online calculator is easy-to-use and takes just a few seconds of your time. Here’s how.
Input the principal, tenure and rate of interest respectively.The EMI value calculated will be displayed immediately.